A bank was an important asset to a new and growing community. Chartered by Solomon Lewis and M. W. Kales in 1877, the Bank of Arizona was the first business in the Arizona Territory devoted exclusively to banking. The partners built a two-story structure at the southeast corner of Gurley and Cortez Streets. Soon, this building was inadequate and a new design competition was announced in January 1900 for a new bulding. Work commenced in August 1900. The new bank building, designed in a classical style with Second Renaissance Revival influence, reflected Prescott's prosperity, with rusticated stone and fired brick and a large column bringing attention to the corner entry. The interior featured oak paneling and patterned wallpaper. Customers included General George Crook and his wife, Governor John Fremont and his wife and many of the miners who brought in their gold to be weighed. The Bank of Arizona later became the First National Bank of Arizona, then First Interstate Bank and then Wells Fargo Bank. When Wells Fargo Bank closed the bank in 1998, it was believed to be the longest continuously operating bank in the State. This building is listed in the National Register of Historic Places.
Next to the bank to the east is the Electric Building, built in 1898, which survived the fire of July 14, 1900. It was then used as a temporary headquarters for the Bank of Arizona, however, their safe would not fit through the door, so they left it on the sidewalk, with a guard to prevent pranksters from rolling it down the Elk's Hill. The Electric Building was built in a Victorian Melange style with a large oriel window decorated with swags, recessed panels and a bracketed cornice. It is the only building of its kind in Prescott.
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